Fannie Mae (FNMA)

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New David Fiderer : Kroll Rating Agency Frames GSE Reform Around Urban Myths

Every credit analysis must grapple with two eternal questions: How do the past and present inform us about the future? And, what is the breakeven?
Kroll Bond Rating Agency all but ignored the first question in its report, “Housing Reform 2017: Can the GSEs be Privatized?" It simply failed to consider how Fannie Mae and Freddie Mac had been self-supporting for more than 35 years, right up until the day they were apprehended by the government. "KBRA reminds all concerned with the issue of housing finance reform that the GSEs failed because of a loss of confidence and market liquidity, not inadequate capital,” it says.
Full article in the link below ....
http://www.fidererongses.com/